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development will mitigate the affordable housing impacts of nonresidential development in cases <br />where the impact fee is not paid and affordable units are provided instead. Therefore, the number of <br />affordable units to mitigate the affordable impacts of the Lane Project is 25 units calculated as follows: <br />244,430 sf net new office divided by 100,000 sf = 2.44 units x 10 = 24.44 units rounded up to 25 units. <br />Accordingly, the donation of the Substitute Site will mitigate the impact of the project on the need for <br />affordable housing because it is valued at $9,880,000 per an appraisal dated October 24, 2025 <br />prepared by Kinetic Valuation Group, Inc. submitted separately to the City. This is $4,106,563 or 1.7 <br />times more than the $5,773,437 impact fee that otherwise would be required. Further, Eden is <br />proposing to develop the Substitute Site with 75 affordable units. This is three times or 50 more units <br />than the 25 units that otherwise would be required if Lane chose to provide affordable units (instead <br />of a land donation) to satisfy its impact fee requirement. Therefore, the proposed donation of the <br />Substitute Site satisfies the Section 29.7C finding that “[t]he affordable units will mitigate the impact <br />of the project on the need for affordable housing if the units are provided under the Affordable <br />Housing Impact Fee program”. <br />ATTY/RESO.0052/ CC RESO APPROVING SUBSTITUTE SITE AS AFFORDABLE HOUSING SITE (705 VETERANS)(1900 BROADWAY DA) - EXHIBIT 1 <br />REV: 07-21-26 MI <br /> <br /> <br />Page 53 of 53